CALGARY—Sunoco LP and Parkland Corporation have entered into a definitive agreement for Sunoco's acquisition of Parkland, a $9.1 billion USD cash-and-equity transaction that will expand Sunoco's presence in the convenience retail and fuel marketing sectors across North America and the Caribbean.
As part of the transaction process, Parkland has canceled its previously scheduled May 6 annual general meeting, opting to hold a combined annual and special shareholder meeting on June 24, 2025, to allow shareholders more time to evaluate the proposed deal.
Parkland operates approximately 4,000 retail and commercial locations across Canada, the U.S., and the Caribbean, including a robust portfolio of convenience stores, foodservice operations, and private-label offerings. Its proprietary JOURNIE™ rewards platform, expanding EV charging network, and growing fresh food service business position it as a rising force in the North American c-store sector.
“This transaction is not just about scale—it’s about enhancing the customer experience,” said Bob Espey, President and CEO of Parkland. “Sunoco shares our vision for customer-focused, modern convenience retail, and this deal gives us the financial strength to accelerate innovation and growth.”
Sunoco confirmed that it will maintain Parkland’s Calgary head office, preserve employment levels in Canada, and support continued investment in Parkland’s convenience and retail innovation strategy. The combined company aims to leverage enhanced scale, expanded geographic reach, and complementary capabilities across its retail channels.
Under the agreement, Parkland shareholders will receive C$19.80 in cash and 0.295 SUNCorp units per share, with options for all-cash or all-equity consideration (subject to proration). The deal represents a 25% premium over Parkland’s recent trading average and includes customary regulatory and court approvals. The transaction is expected to close in the second half of 2025.
The move marks a strategic pivot for Sunoco, traditionally focused on energy infrastructure, as it looks to grow its presence in retail convenience formats and customer-facing services.
